Federal Reserve Chair Jerome Powell gives his thoughts on inflation risks, the economy, the timeline for cutting rates, the health of the country’s banks and...
While bitcoin allows us to control monetary policy the one chosen for BTC was a big mistake. The fixed supply benefits early adopters very strongly which just creates a new different financial elite and just doesn’t make sense when you consider future generations.
I’ve switched entirely to being interested in Ergon which is a code fork of Bitcoin but with block reward proportional to difficulty which means coins are mined with a fixed electricity cost and so instead of pumping and crashing the price is pushed towards an equilibrium of the production cost.
While bitcoin allows us to control monetary policy the one chosen for BTC was a big mistake. The fixed supply benefits early adopters very strongly which just creates a new different financial elite and just doesn’t make sense when you consider future generations.
I’ve switched entirely to being interested in Ergon which is a code fork of Bitcoin but with block reward proportional to difficulty which means coins are mined with a fixed electricity cost and so instead of pumping and crashing the price is pushed towards an equilibrium of the production cost.